UK Consumer Sentiment Hits Record Low
17 November 2022
The Index of Consumer sentiment is our quarterly insight into the minds of UK consumers.
It tells us how confident they're feeling about their own finances, and also their optimism about the economy as a whole.
The detailed report with full analysis will be published soon, but here is the topline infographic:
UK consumer sentiment continues its long=term decline, after a slight recovery in Quarter 3.
This is a record low score, as consumer sentiment reflects the realities of the cost of living crisis, rapid price rises, and looming recession.
Consumers' level of confidence varies a lot, and as the overall index has fallen we have seen widening gaps between different types of people.
We'll put a lot more detail in the forthcoming full report, but some key findings are:
Consumers over 45 are much less confident than younger consumers, and the gap is widening
Consumers with more debt than savings are much less confident, even if their income is high
Social renters are much less confident than those with other types of tenure
Consumers are taking steps to reduce spending and offset rising costs
Let us know if you have any questions, and look out for the full findings.
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